Ibovespa Futures Fall on Renewed China Economic Growth Concern
Ibovespa futures dropped after China drained funds from the banking system for the first time since June, rekindling speculation that growth in Brazil’s top trade partner will slow.
Property developer BR Properties SA (BRPR3) may move after posting an unexpected fourth-quarter loss. Duratex SA (DTEX3), a producer of wood panels and bathroom fixtures, may be active after saying it plans to buy back as many as 22.2 million voting shares.
“Concern about the outlook for growth in China and the U.S. will probably push Brazilian equities lower in today’s session,” Banco Bradesco SA’s economic team wrote in an e-mailed note to clients.
The Ibovespa has tumbled 16 percent from a bull-market high on Oct. 22 as inflation exceeded policy makers’ target and concern mounted that higher government spending will lead to a reduction in the country’s credit rating.
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